Questions from Cost Accounting

Q: SodaKing manufactures and sells three soft drinks: Kola, Limor,

SodaKing manufactures and sells three soft drinks: Kola, Limor, and Orlem. Budgeted and actual results for 2015 are as follows: Required: 1. Compute the total sales-volume variance, the total sales-...

Q: SodaKing prepared the budget for 2015 assuming a 10% market share

SodaKing prepared the budget for 2015 assuming a 10% market share based on total sales in the western region of Canada. The total soft-drinks market was estimated to reach sales of 25 million cases in...

Q: Instant Service (IS) repairs printers and photocopiers for five multisite

Instant Service (IS) repairs printers and photocopiers for five multisite companies in a tri-city area. IS’s costs consist of the cost of technicians and equipment that are directly...

Q: Generic Inc. is a distributor of pharmaceutical products. Its ABC

Generic Inc. is a distributor of pharmaceutical products. Its ABC system has five activities: Activity Area …………â...

Q: A&A Inc. is a manufacturer of digital cameras.

A&A Inc. is a manufacturer of digital cameras. It has two departments: assembly and testing. In January 2015, the company incurred $750,000 on direct materials and $798,000 on conversion costs, for a...

Q: Journal entries (continuation of Exercise 17-13). Refer to

Journal entries (continuation of Exercise 17-13). Refer to requirement 2 of Exercise 17-13. Required: Prepare summary journal entries for the use of direct materials and incurrence of conversion cost...

Q: Roary Chemicals has a mixing department and a refining department. Its

Roary Chemicals has a mixing department and a refining department. Its process-costing system in the mixing department has two direct materials cost categories (Chemical P and Chemical Q) and one conv...

Q: A number of terms are listed below: equivalent unit

A number of terms are listed below: equivalent unit (EU)………………………………………………….first-in, first-out (FIFO) weighted-average process-costing method………………standard-costing method Required: Select the terms...

Q: Bio Doc Corporation is a biotech company that makes a cancer-

Bio Doc Corporation is a biotech company that makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversion costs are added evenly...

Q: Refer to the information in Exercise 17-16.

Refer to the information in Exercise 17-16. Required: Do Exercise 17-16 using the FIFO method. Note that you first need to calculate the equivalent units of work done in the current period (for direc...